[The Clerk read a report from the Director of the Mint, received during the last session, stating the real and personal property attached to the Mint; that the machinery might last for one year; that the horses may last a year; that to conduct the operations of the Mint to advantage, steam should be used instead of horses; that the lot on which the Mint is erected was too small; and that a less annual sum than seventeen or eighteen thousand dollars would not provide for the establishment.]
Mr. Randolph said he would state a fact, which was, that notwithstanding all the issues from the Mint, no member sees a coin. For himself he had not seen a piece of gold coined in the Mint for two years.
Mr. Lowndes said the remark of the gentleman from Virginia (Mr. Randolph) was not correct, as he had seen many pieces of American coin. But he could assign a satisfactory reason for the appearance of so little gold in ordinary circulation. It was the practice of the banks to count over once a month the specie in their vaults. This trouble was considerably lessened by depositing gold instead of silver. He had been credibly assured that there was now in the vaults of the banks of the United States gold, in eagles and half eagles, to the amount of two millions of dollars.[72]
Mr. Dennis said that, if, on full inquiry, the establishment appeared to be a drain on the Treasury, he should be for abolishing it; but he should not, on immature information, be for abolishing an institution, coeval with the Government, and founded on good reasons. The reasons adduced by the gentleman from Virginia (Mr. Randolph) were insufficient. So far as related to the horses, he believed there were only four employed, and the purchase of four fresh ones would be a very unimportant consideration. Another argument was drawn from the smallness of the lot on which the Mint stands. Though it might be better conducted on a more extensive lot, yet he was not satisfied, notwithstanding present disadvantages, that it might not be profitably conducted, at least so far as regarded a copper coinage. For these reasons he thought it proper to wait a few days, in order to receive information that would enable them to understand the points on which their decision may ultimately turn.
The question was then taken on Mr. Gregg's motion to postpone the subject till the second Monday in January, and carried—ayes 47, noes 28.
Thursday, December 23.
Another member, to wit, Lewis R. Morris, from Vermont, appeared, and took his seat in the House.
Friday, December 24.
Another member, to wit, William H. Hill, from North Carolina, appeared, and took his seat in the House.